MedQuest Radiology Management Services, a leading provider of radiology consulting and management services, released a white paper this week examining five ways a hospital or health system can increase radiology revenue streams, maximize revenue capture and streamline operations. These five areas are typically the focus when MedQuest conducts an assessment of radiology operations for a health system to identify opportunities within this important service line.
“As we travel the country working with health systems and hospitals to boost the value, effectiveness and profitability of their imaging operations, we see a pattern in certain key areas and opportunities being overlooked,” said Bruce Elder, Chief Development and Strategy Officer of MedQuest. “With this white paper, 5 Ways to Improve the Profitability of Your Radiology Operations, we bring together those lessons learned and best practices to assist providers in boosting radiology profitability.”
The key, according to the white paper, is to optimize revenue and volume while at the same time increasing operational efficiencies. The white paper details five critical areas to address, including performing a market analysis; establishing a dedicated radiology sales and marketing team; optimizing the order funnel; reviewing workflow, throughput and productivity; and performing effective imaging network management and capital planning.
One of the most impactful steps recommended by MedQuest is establishing a dedicated radiology sales and marketing team beyond, and complementary to, a hospital’s other outreach efforts. “We’ve repeatedly proven that having a team focused solely on radiology sales and marketing functions generates a positive return on investment by increasing both volume and customer satisfaction levels,” Elder said.
The job of the radiology sales and marketing specialist is to increase referrals by building productive, clinically driven relationships with referring physicians and their office staffs. Developing clinician-specific radiology marketing plans, performing vital service recovery and creating targeted marketing strategies are all tactics that the sales and marketing team can employ to build volume.
The white paper, 5 Ways to Improve the Profitability of Your Radiology Operations, is available for download from MedQuest’s website.
MedQuest’s comprehensive management and consulting services assist health systems, hospitals and imaging centers with optimizing their imaging resources. In addition to radiology assessments and management services, MedQuest offers support services including sales and marketing; operational enhancements such as scheduling and intake improvements; and strategic development and network management. MedQuest brings decades of experience in the radiology industry and owns, operates and manages diagnostic imaging facilities in seven states.
About MedQuest Radiology Management Services
MedQuest is a leading provider of radiology management and consulting services to health systems, hospitals and imaging centers across the country. Drawing upon decades of operational experience and industry knowledge, MedQuest delivers comprehensive guidance and solutions that increase revenue and optimize operations, while improving quality and the patient experience. In-depth assessments, one of the company’s most requested services, offer actionable insights into growing referrals, streamlining operations and strategically planning for the future. MedQuest’s industry-leading services and proprietary systems create an unrivaled value proposition for customers. Visit www.mqradiology.com to learn more.